The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-10-14
THE BANKERS CONVENTION.
Resolutions Favoring Extinguishment of the
Public Debt-The Nominations Made.

PITIsBURG, Oct bit was nearly IL o'clock
when the convention of the American Bankers
Association was called order this morning by
President Murray. There was noticeable in
crease in the attendance. a large number Of
delegates having arrived since the close of yes
terday's session. After the usual opening exer-
cises the following resolutions offered and
referred the executive council. By Judge
Ewing. of Pennsyvania:
Resolved That favor a rapid extinguishment of
the public debt and therefore recommend the con-
the outstanding government bonds. We consider a
reduction OF the revenues wholly unnecessary mex
peoent ana onW1se Leu tne SIRIUS oe promptly am
constantly applied to the liquidation OF the debt and
let the action of the treasury in the work of buying
the bonds be further regulated systematic and
trolled by additional legislation.
By w. p. ST. John, of New York:
Resolved, That the existence of the National banks
is not dependent upon the national debt.
By Mr.. Carter. of Nebraska:
Resolved. That the executive council be and is
amendments to the national banking may
most desirable and expedient. and transmit copy
thereof to each member of this association. with
letter inviting criticisms for consideration by said
executive council after which the bills shall again be
brought before "a Il council for consideration and
final adoption it shall then be presented to Congress-
and copy of the mailed to each member of
this association. with request TO their onal
influence with the members of Congress and United
States senat from their respective States to
Resolved. That the executive council be and is
hereby instructed to examine the banking legislation
of each State and Territory, and endeavor through
tho local members of this association to uni
form bank Legislation throughout the country.
Resolved, That the executive council be and is
hereby authorized to employ such assistants may
be necessary to in legitimate the OBJ
are her eby empowered to levy from time to time
upon the members of this association assessments
sufficient to meet the expenses necessarily incurred in
carrying out these instructions.
The nominating committee then presented the
following
President Logan c. Murray of New York;
first ice-president, Charles Parsons. ST. Louis
Executive Characterization. John jaw Knox,
of New York; Gen. s. Cox. of New York: Ly man
j. Gage. Chicago. Daniel Amman. Cum bsrland
Md James Fl. Bouve. Boston, ". G. Deshler.
Columbus. O.; E. b. Jordan, Syracuse, N Y:
J. W Lockwood. Richmond. Va. Augustus Fl.
Moss. Sanduskv, o.; NJ. II. Michael. Philadel-
phia; w. 7: Nash: New York: J. j. p Odel
Chicago; w. II. Rhawan. Philadelphia: Hoel H.
Camp Milwaukee; Logan Fl. Roots, Little Rock,
Ark: j. T. Smith Baltimore. Md: S. K. Sneed,
Henderson. XIV; w. E. Schmertz, Pitrsbnre
Edmund Tyler, Boston, A w. Wyman, Omaha
w. P. ST. John. New York.
The routine business having been disposed of.
papers read by c. p Williams. of Albany;
Elliott F. Shepherd. of New York; Henry NJ.
Knox. OF Minnesota H. B. Wilson, OF Ohio, and
Beriah Wilkins. of Ohio.
A resolution offered by Mr.. Taylor, of Boston,
in support OF the propositions made by Mr..
Knox. recommending the passage of bill for
the refundinR of four Per cents. into two-and-
half per cents, caused spirited discussion
about tho only one during the session. 1t was
finally tabled
The executive council presented resolution
favoring the Washington centennial. which was
adopted
The report on silver, which had been opposed
early in the session and Withdrawn, was again
presented. The committee said: 1.-THE Ameri-
can Bankers Association has always taken the
ground that both silver and gold are required as
tho money of the world. but that an inter
national agreement on the part of majority Of
chief commercial nations of the world can prac-
tically settle the question of the relative value
OF gold aud silver when coined. Though several
international conferences have been held no
conclusion has as yet been reached" The re-
port refers to the action taken by foreign
powers, and concludes with the Recommendation
that the coinage of silver dollars By the United
States under the act of Congress of February
1887 be suspended until the points at issue as to
the silver question be settled by international
agreement The report presented was
adopted and the convention adjourned finally.
In the afternoon the delegates and other
guests participated in river excursion by
which they had opportunity of seeing the
Davis Island dam. constructed by the govern
establishments. including the Edgar Thompson
works, located on the banks of the rivers. To-
morrow excursion by rail to other leading in
terests will be made; also to the natural gas
fields within twenty five miles of the city. Thus
far the session has been one of the most enjoy
able and interesting ever held by the association.
and the visiting bankers are loud in their praises
over the manner in which they have been enter.
tanned.